Sports betting – Page 149

July 11, 2022

OpenBet to power Sazkabet sportsbook

Light & Wonder has announced that its sports betting business OpenBet will power Sazka a.s and its Czech sportsbook brand Sazkabet's online and mobile sportsbook.

As part of the deal, Sazkabet has already deployed the OpenBet managed services platform, which includes a scalable betting engine and risk and liability management system.

In addition, OpenBet has now expanded its presence across Europe by partnering with Sazka , the largest lottery operator in the Czech Republic.

Jan Horyna, Sazka’s igaming director, said that the agreement is crucial to improving the company’s offerings.

“Transitioning to OpenBet’s sports betting technology and services is a key move for us to provide our customers with high-quality and responsible betting experiences,” said Horyna.

“With OpenBet’s transformed modern technology, we are delighted to have introduced significant improvements to our overall sportsbook offering and relish the opportunity to plan future collaborations with OpenBet over..

July 11, 2022

Oregon sports betting revenue dips in June

Sports betting revenue in Oregon declined 10.7% year-on-year to $2.5m (£2.1m/€2.5m) in June despite an increase in player spending during the month.

Gross gaming revenue from sports betting was down from $2.8m in June of last year and also 50.0% lower than $5.0m in May 2022.

Consumers wagered $34.0m on sports during the month, which was 36.6% higher than $24.9m in June 2021, but 18.5% down from $41.7m in May of this year.

DraftKings, which has a state-wide partnership with the Oregon Lottery, generated $2.6m in revenue from $33.9 in player bets.

In contrast, the Oregon Lottery’s Scoreboard online sportsbook – which has been phased out to be replaced by DraftKings but still pays out on bets placed before this process began – took $56,269 in wagers but posted a loss of $100,600.

Baseball drew the highest amount of spending, with players having spent $13.9m betting on the sport and revenue from this reaching $898,175. All of this activity took place through DraftKings.

Basketball fo..

July 11, 2022

Iowa sports betting revenue down YoY in June despite handle increase

Sports betting revenue in Iowa fell 21.4% year-on-year to $6.6m (£5.5m/€6.5m) in June, despite player spending in the state increasing by 10.1%.

Revenue was down from $8.4m in June 2021 and also 47.6% lower than $12.6m in May of this year.

Some $6.2m of this total was attributed to online sports betting, while just $340,552 came from players betting at retail sportsbooks across the state.

In terms of handle, consumers wagered a total of $122.4m on sports during June, up from $111.2m in the same month last year, but 17.2% down from $147.9m in May 2022.

Of this total, $111.9m was spent online, while the remaining $10.5m was wagered through retail sportsbooks.

Breaking down individual operator performance, Diamond Jo in Dubuque and its FanDuel sportsbook topped the revenue charts with $1.9m in sports betting revenue for the month, while its $31.0m handle was also the highest in the state.

DraftKings partner Diamond Jo in Worth was second with $1.0m in revenue and a $15.4m handle, th..

July 11, 2022

Curaçao minister: Risk of market exits will not stop us raising standards

Curaçao Finance Minister Javier Silvania has “no issue” with the island’s planned gambling overhaul resulting in operators pulling out of the jurisdiction, saying those who fail to meet its new standards will not be missed.

Speaking to iGB, Silvania explained the rationale and context behind Curaçao’s plans to drastically reform its gambling laws.

Among the changes will be the introduction of the Curaçao Gambling Authority (CGA), a body that will oversee licensing and enforcement.

The CGA will replace the current system, whereby four private entities hold master licences from the government, and offer sub-licences to operators with little to no government oversight.

Silvania noted that under the current system there had been a number of “shortcomings and challenges” and that the master licence system was “not an ideal situation”.

“The new bill ensures the monitoring is under the control of the government,” he explained to iGB. “It is important for the government to know who has l..

July 11, 2022

Curaçao to overhaul regime with new regulator, higher bars to entry

Curaçao is set to drastically reform its entire online gambling regime, setting up a new licensing body – with higher barriers to entry and the ability to cooperate with other regulators to tackle illegal gambling – to replace master licences.

The island’s licensing regime was notable for its extremely liberal system and low barriers to entry with little scrutiny for operators, but the government intends to change this.

Currently, only four businesses are licensed by the government. Each of these then offer out their own licences on their own terms, meaning that private entities rather than the government wielded most practical control of licensing.

This will be drastically changed under a new bill that has been approved by the Curaçao Council of Ministers, part of an overhaul of gambling regulation on the island.

A new system will be set up, with licences for both B2C operators and B2B suppliers issued by the Curaçao Gaming Authority (CGA), an independent body set up by the gover..

July 11, 2022

NY mobile sports betting handle and revenue slip to record low in June

Players in New York spent $1.05bn (£876.9m/€1.04bn) on mobile sports betting in June, the shortest monthly total since the regulated market launched in January, while revenue also fell to a record low.

The total amount wagered by consumers during the month was 16.7% down from $1.26bn in May, which was incidentally the previous lowest monthly handle in New York, and marked the third consecutive month of decline.

Gross gaming revenue from mobile sports betting also declined 34.1% month-on-month to $72.4m, also surpassing the previous record-low of $82.4m set in February.

Looking at individual operators, Flutter Entertainment-owned FanDuel Group remained the clear market leader with $39.6m in revenue from $472.9m in total bets.

DraftKings placed second with $16.4m in revenue off a handle of $270.2m, ahead of Caesars Sportsbook with revenue of $6.3m and a $156.4m handle. BetMGM also posted $6.3m in revenue, albeit with a lower handle of $92.4m.

Rush Street Interactive followed with $1..

July 8, 2022

Betfred partners Long Shot’s for Maryland sports betting launch

Betfred's sports arm, BetFred Sports, has agreed a market access deal in Maryland with off-track betting facility and restaurant Long Shot’s of Frederick.

Under the agreement, Betfred will offer both retail and online sports betting in the state.

A temporary retail sportsbook will open adjacent to the Maryland Jockey Club’s off-track betting within Long Shot’s for the 2022 National Football League season. Due to open in September, the facility will include in-person betting windows and self-serve betting kiosks.

A permanent sportsbook site with a video wall, theatre-style seating and food and beverage facilities is scheduled to open early next year.

Betfred also intends to roll out online sports betting in the state, though remains subject to final regulatory approval.

Maryland Governor Larry Hogan signed a bill to legalise both online and retail sports betting in Maryland last year, after voters approved sports betting through a November 2020 referendum.

However, while reta..

July 8, 2022

Delaware betting handle hits lowest point since August 2020

Sports betting handle in Delaware dropped to its lowest point since August 2020 while revenue fell by two thirds year-on-year during June 2022.

During the month ended 26 June, players staked a total of $3.5m, which was 41.1% less than in June of 2021. In addition, this figure was the lowest since August 2020, which was the first full month following the reopening of casinos and racetracks in the state after Covid-19 lockdowns.

The number of wagers placed also reached a new low for the year, at 112,200.

Revenue was also down sharply, by 67.1% year-on-year to $212,768.

Both revenue and handle were down year-on-year at each of the state’s three operators. Delaware Park led the way with almost half of the revenue and handle. Players staked $1.7m, almost exactly half of what they staked in June 2021, while the sportsbook took in $100,914, down 72.7%.

Dover Downs followed, with revenue of $57,411 from stakes of $1.0m, its lowest total since July 2020 when the venue was closed for much o..

July 7, 2022

Arizona sports betting handle hits $512.9m in April

Players in Arizona spent $512.9m (£429.3m/€502.8m) on sports betting during April, while gross revenue for the month reached $29.2m.

The state’s handle was the second-highest monthly total since the launch of legal wagering, 25.8% behind the record $691.0m that was wagered in March of this year.

Consumers bet $509.5m online during the month, while the remaining $3.3m was spent at retail sportsbook locations.

Players won $482.4m from sports betting in April, which left $29.2m in gross revenue, 21.5% lower than the $37.2m figure in March.

After including $12.7m worth of free bets and promotional credits, taxable revenue for the month was $16.5m, down 11.8% from the previous month

The state was also able to collect $1.6m in tax from sports betting during April.

DraftKings again processed the most wagers during March, taking $155.9m in online bets, marginally ahead of FanDuel with $152.5m in combined online and retail wagers. BetMGM followed with $100.6m in online bets.

In terms of ..

July 6, 2022

Playmaker Capital acquires World Soccer Talk

Affiliate business Playmaker Capital has acquired US-based soccer media company World Soccer Talk.

Playmaker announced the news in a press release in which it focused on the rising popularity of soccer in North America, emphasising its place as the now the fourth most popular sport in the country after American football, basketball, and baseball.

Playmaker CEO Jordan Gnat commented on the deal: “Soccer is on the rise in the US and Canada, and Playmaker is focused on becoming the preeminent voice for the sport across the Americas, from the top of Canada to the bottom of Argentina.”

“World Soccer Talk founder, Christopher Harris, exudes a true passion for sport that’s shared by the entire Playmaker team, and we’re excited to welcome him and World Soccer Talk into our family and our ecosystem as a core piece of a broader soccer strategy in advance of World Cups 2022, 2023 and 2026.”

World Soccer Talk web, social media and podcast assets will join Playmaker’s existing portfolio of digi..

July 5, 2022

VBet partners with OGC Nice

BetConstruct-operated sports betting and gaming brand VBet has announced a new sponsorship deal with French football club OGC Nice.

The club will be the latest French football team to make a deal with operator, following the announcement of similar deals with AS Monaco in 2020 and Paris FC the previous March. VBet branding will feature on the club’s shorts through to 2025, as well as prominently on its digital platforms.

In return, VBet will broadcast exclusive content for its partner as well as organise events and competitions to win match tickets – in addition to offering other digital content throughout the season.

VBet France president David Ozararat commented on the deal: “Aside from the symbolism of teaming up with the city where I was born and grew up, I’m very happy VBet is becoming one of the official partners of OGC Nice alongside its shareholder INEOS. Today, the club’s potential is at the highest possible level and the ambitions of its president are aligned with our bus..

July 5, 2022

Romanian government publishes plan for 40% tax on withdrawals

The Romanian government has published the country’s new draft Fiscal Code, featuring a tax hike on gambling withdrawals to as much as 40%.

The new code was published by the Ministry of Finance, and contains updates to the country’s tax laws.

Previously, gambling withdrawals in Romania of less than RON66,750 (£11,579/€13,493/$13,980) were taxed at 1%, while withdrawals of up to RON445,000 faced a 16% tax – plus an additional payment of RON667.50 and withdrawals beyond that total were taxed at 25%.

However, now withdrawals of up to RON3,000 will be taxed at 10%. Withdrawals of more than RON3,000 but no more than RON10,000 are taxed at 20%, plus a RON3000 fee. Beyond RON10,000, the tax rate will be 40%, plus a RON1,700 fee.

The tax will be applied with each withdrawal.

When the tax hike was first reported, trade body the Association of Remote Gambling Organisations (AOJND) said that it would push players towards illegal operators.

It estimated that – if the tax comes into effect – ..

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Tag: Sports betting